Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/31706 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorQiu, Jianyingen
dc.contributor.authorSteiger, Eva-Mariaen
dc.date.accessioned2009-02-18-
dc.date.accessioned2010-05-14T11:12:01Z-
dc.date.available2010-05-14T11:12:01Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/31706-
dc.description.abstractIn the framework of expected utility theory, risk attitudes are entirely captured by the curvature of the utility function. In cumulative prospect theory (CPT) risk attitudes have an additional dimension: the weighting of probabilities. With this modification, one question arises naturally: since both utility and probability weight-ing determine the attitude towards risk, what is the relation between them? We ran a controlled laboratory experiment to answer this question. Our findings suggest that the two dimensions capture different characteristics of individual risk attitude. Though individuals who are risk averse in one dimension are likely to be risk averse in the other, the two dimensions show no significant correlation. Moreover, a significant proportion of subjects are risk averse in one dimension but risk seeking in the other.en
dc.language.isoengen
dc.publisher|aFriedrich Schiller University Jena and Max Planck Institute of Economics |cJenaen
dc.relation.ispartofseries|aJena Economic Research Papers |x2009,006en
dc.subject.jelC91en
dc.subject.jelD81en
dc.subject.ddc330en
dc.subject.keywordRisk attitudesen
dc.subject.keywordcumulative prospect theoryen
dc.subject.keywordexperimental studyen
dc.subject.stwRisikopräferenzen
dc.subject.stwErwartungsnutzenen
dc.subject.stwProspect Theoryen
dc.subject.stwTesten
dc.titleRelating the two dimensions of risk attitudes: an experimental analysis-
dc.typeWorking Paperen
dc.identifier.ppn59199626Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
414.41 kB





Publikationen in EconStor sind urheberrechtlich geschützt.